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Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
 Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs amid lower commodity prices.
Mining companies continue to move operations in-house, renegotiate service contracts to reduce value or scope, extend payment terms and limit further exploration as they seek to minimise costs and restore profitability. This directly impacts the work contracted to mining services companies, either squeezing margins, delaying cash inflows or reducing the pipeline of work available.
The decision last week by Fortescue Metals Group Limited not to renew its contract with Downer EDI Limited, as its moves to an owner-operator model at its Christmas Creek mines, highlights this trend. Fortescue had also reduced the scope of the contract in February 2015. In addition, Rio Tinto Ltd announced last week that it was extending its supplier payment terms to 90 days from 45 days for contracts greater than USD3m, and to 60 days for contracts under this threshold. Other solutions over the past year include Atlas Iron announcing a profit sharing arrangement linked to iron ore prices with its contractors to address the impact of price volatility on its returns.
Fitch expects mining service companies with limited operations outside the resources sector to be more affected by the mining companies' actions because they have fewer opportunities to replace lost revenues. Fitch downgraded Emeco Holding Limited's Issuer Default Rating by two notches to 'B-' in September 2015, which reflected the impact of the prolonged weakness in global commodity markets on its profitability, cash flows and scale. The recent insolvencies of Civil Australia Holdings and WDS Ltd. continue to highlight the increasing challenges smaller mining service companies face in this new environment.
Larger and more diversified engineering firms, such as Downer, are likely to be less affected by the miners' actions. Their exposure to other sectors, including infrastructure and civil sectors, allows them to mitigate any loss of mining services revenue.
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Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
Tuesday, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
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- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
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